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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 14 September 10
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Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
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Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
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Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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